Chip maker AMD has strenuously denied claims that the company has hired a bank to seek a potential buyer, which could include the sale of the entire company.

The rumor kicked off when three sources familiar with the situation told Reuters that AMD had hired J.P. Morgan Chase & Co. to "explore options" ranging from a "sale of its portfolio of patents" to "outright sale of the company," although the latter option is described as "not the main option".

While J.P. Morgan refused to comment on the rumor, AMD spokesperson Drew Prairie denied the claim, stating that: "[AMD is] not actively pursuing a sale of the company or significant assets at this time."

Prairie went on to say that, "AMD's board and management believe that the strategy the company is currently pursuing to drive long-term growth by leveraging AMD's highly-differentiated technology assets is the right approach to enhance shareholder value".

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